The headline of this blog and the underlining are from 4CNA, while the rest of the text is from the Port of Ridgefield.
We wanted to add clarity to the information because it uses jargon like "Tax Increment Financing" which could be confusing. Additionally, in the FAQs section, they answer the question "will it increase my property taxes with" with "No" and then go on to say "maybe," so there's some massaging of the language here. See below.
Full details are available here: https://portridgefield.org/tax-increment-financing
Is TIF a new tax? Will it increase my property taxes?
No, TIF is not a new tax. Rather, it is a funding tool that redirects annual tax increases to fund an approved list of projects within the TIA. However, using TIF may require additional assessment of property values, which can result in slight increases for some property tax levies and slight decreases for others. The increase in taxes on a property valued at $100,000 is estimated to be less than 54 cents per year.
Open House Event: Learn About the Port's Tax Increment Financing Proposal
  Â
Have questions about how the Port plans to fund its future projects through tax increment financing? Join us for an insightful open house event!
When: February 28, 5:00 PM - 7:00 PM
Where: Port of Ridgefield Office, 101 Mill Street, Suite 100
This is your opportunity to dive deep into our financing plans for upcoming projects and partnerships. Whether you're curious about the specifics of tax increment financing or want to learn more about our initiatives, this event is for you.
The open house is designed as a drop-in format, allowing you the flexibility to stop by anytime between 5:00 PM and 7:00 PM on February 28. We will also host a brief PowerPoint presentation at 5:30 PM to outline key aspects of our proposal and ongoing efforts.
For more details on the Ridgefield Waterfront project, visit our website: https://portridgefield.org/ridgefield-waterfront
We’ll see you there!
Comments